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Indian gold imports in 2019 hit 3-year-low as record high prices dent demand

Indian gold imports in 2019 hit 3-year-low as record high prices dent demand

Friday, January 3, 2020, 8:23 PM

India's gold-imports in 2019 fell 12% from a year ago to the lowest-level in three-years as retail buying faltered in the second-half after local-prices rallied to a record-high, a government source said. Lower buying by the world's second-biggest consumer of the precious metal could weigh on global-prices that jumped 18% in 2019, but help New-Delhi bring down the trade deficit and support the rupee.
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